Total Eren Seeks EBRD Debt for 100-MW Solar Project in Uzbekistan

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Aug 2020
Uzbekistan, August, 25 2020 - According to the EBRD, the project will be one of the first two privately-owned power sector projects in Uzbekistan. The Central Asian nation has set a goal to lift the share of its installed renewables capacity by up to 5 GW in the next 10 years.

A unit of French independent power producer Total Eren has requested debt financing of up to EUR 32 million (USD 37.8m) for the construction of a 100-MW solar park in Uzbekistan.

Through Uzbekistan-based special purpose vehicle Tutly LLC, the Paris-based company is seeking to obtain a senior secured credit facility from the European Bank for Reconstruction and Development (EBRD), according to a Project Summary Document (PSD) disclosure by the lender. The concept for the Samarkand scheme has been reviewed and a decision will be made on October 21.

Total Eren plans to build and operate the 100-MW photovoltaic (PV) park in the Samarkand region of southeastern Uzbekistan. The overall investment required to implement the project is estimated at EUR 104 million. When it first announced plans for the project last September, Total Eren said it expects to bring the solar farm online in the first quarter of 2021.

According to the EBRD, the project will be one of the first two privately-owned power sector projects in Uzbekistan. The Central Asian nation has set a goal to lift the share of its installed renewables capacity by up to 5 GW in the next 10 years.



Source : Renewables Now
 

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